WORCESTER COUNTY. 1197

fifteen thousand dollars and to issue and sell coupon bonds
therefor in sum of not less than one hundred nor more than
one thousand dollars each, to be signed by the Mayor of said
town and to be countersigned by the secretary and treasurer
thereof, with the seal of said town attached, and to be regis-
tered by said secretary and treasurer in the book kept by said
Mayor and Council in which' are registered the Water and Light
bonds heretofore issued by said town; said bonds by this section
authorized shall be known and designated as "Improvement
and Extension Bonds," and shall bear interest at the rate of
five per cent, per annum, payable semi-annually on the first day
of January and July in each and every year until the said
bond are paid; said bond shall be forever exempt from all taxa-
tion whatsoever except for State purpose, and shall have
printed on them a distinct reference to the Act directing their
issue.

48V. Said bonds shall be issued in series from one to fifteen
inclusive, according to the aggregate amount issued, each series
consisting of one thousand dollars on said amount, and shall be
redeemable as follows: one thousand dollars thereof on the first
day of July, 1964, and one thousand dollars thereof on the first
day of July in each and every year thereafter, until the whole
amount so issued shall have been paid; and said bonds shall be
sold at public or private sale in such amounts, not less, how-
ever, than five hundred dollars at any one time, and not exceed-
ing in the total the said sum of fifteen thousand dollars, and at
such time as the Mayor and Council of Berlin in their discre-
tion may deem proper, until the said fifteen series have been
issued and sold; provided that none of said bonds shall be sold
at less than par. It is especially intended that the power here-
by vested in said Mayor and Council shall be a continuing
power until the whole of said fifteen thousand dollars of bonds
shall have been issued and sold.

48W. For the purpose of redeeming said bonds at their ma-
turity and for securing the prompt payment of the interest
thereon the said Mayor and Council are hereby empowered and
directed to annually levy on the taxable property of said town
such sum of money, in addition to the levies heretofore pro-
vided for, as said, in their discretion, be necessary for the
prompt payment of the interest on said bonds and the principal
thereof when the same may become due, and any surplus oh
hand at any time arising from such levy shall be by the said
Mayor and Council invested in some safe securities as a sinking
fund which shall not at any time be diverted from the purposes
of this Act.

48X. The money arising from the sale of said bonds shall be
paid to the Mayor and Council of said town and by them be